Tesla to top Earnings and Delivery Estimates: Barclays
Tesla to top earnings and delivery estimates: Barclays
Published: Nov 5, 2014 2:14 p.m. ET
By CLAUDIA ASSIS, ENERGY REPORTER
SAN FRANCISCO (MarketWatch) — Tesla Motors Inc. TSLA, -3.20% will top delivery estimates and report the delivery of about 8,200 Model S sedans in the third quarter, compared with company guidance of 7,800 units, analysts at Barclays said in a note released Wednesday. Third-quarter earnings are expected to be “solidly ahead of consensus” of a loss of 1 cent a share, they added. The analysts said they expect the company to reiterate guidance of delivering 35,000 sedans for all of 2014, which would imply the delivery of 12,800 cars in the fourth quarter. That’s doable as Tesla is likely to note that demand for the all-wheel drive Model S variant is doing well and the new version has not cannibalized the older Model S version, and there could also be a pick-up in leasing due to a recently announced deal with U.S. Bank, the analysts said. Tesla is expected to release third-quarter results after the bell Wednesday, with a conference call scheduled for 5:30 p.m. Eastern.
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Claudia Assis is a San Francisco-based reporter for MarketWatch. Follow her on Twitter @ClaudiaAssisMW.Click here for reuse options!
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